Social Trading India information below
Social trading is a global phenomenon, with traders from every corner of the globe trading on social trading networks, such as eToro. Social Trading India is a very popular topic, so we thought we would help you with the latest information
Is eToro legal in India?
Unfortunately not, Indian residents have not allowed to perform this type of trading as ruled by the Securities and Exchange Board of India (SEBi).
Back in Oct 2016 the SEBi proposed a ban on unauthorised stock trading tips through SMS, WhatsApp, Twitter, Facebook, email, blogs and various other internet and mobile-based platforms, including social trading networks like eToro.
SEBi has outlined that social trading comes under an investment advisory service, for which the social trader on a platform is sharing a tip. SEBi is against ‘tips’.
Social Trading India alternative
So whilst Indian residents can’t join a social trading network, there are still opportunities to join a regular trading platform such as City Index. They provide a great desktop or mobile trading environment where you can trade many different assets, such as Cryptocurrency through CFDs.
The most important thing is that they accept India residents and trading on their platform is completely legal to trade in India. They provide you with multiple deposit and withdraw methods for Indian residents including bank transfer, debit/ credit card and eWallets (Skrill, WebMoney, Neteller, etc). Minimum deposit is £10 or equivalent.
- Highly regulated
- 12,000+ markets
- 30 years experience
- Award winning platform